West Virginia Code 46B-3-7 – Disclosure requirements

(a) The dealer shall make all disclosures required by this section.

Terms Used In West Virginia Code 46B-3-7

Consumer: means a natural person who acquires, or seeks to acquire, the right to possession and use of consumer goods from a dealer. See West Virginia Code 46B-1-5
goods: means goods intended to be used primarily for personal, family or household purposes. See West Virginia Code 46B-1-5
Ownership: means the right to enjoy, possess and use consumer goods to the exclusion of other persons, including the right to transfer legal title to such consumer goods or to otherwise control, handle or dispose of such consumer goods, whether or not indicia of such ownership is established by, or otherwise required to be evidenced by, a title-paper, letter, receipt or other document or instrument. See West Virginia Code 46B-1-5
Periodic payment: means a payment required to be made by a consumer to have the right to possession and use of consumer goods during a specified time period. See West Virginia Code 46B-1-5
Rent-to-own agreement: means a rental agreement which:
(i) Transfers the right to possession and use of the rental property from the dealer to the consumer. See West Virginia Code 46B-1-5
Rental agreement: means the bargain, with respect to the rental of consumer goods under a rent-to-own agreement, of the dealer and the consumer as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See West Virginia Code 46B-1-5
Written agreement: means a written document containing or evidencing the terms of a rent-to-own transaction, reduced to a tangible and legible form by printing, typewriting, computer print-out or any other intentional reduction. See West Virginia Code 46B-1-5

(b) In all circumstances listed in subsection (c) of this section, the dealer shall disclose the following information with respect to the goods that are the subject of the rental agreement in a clear, conspicuous and easily understood manner:

(1) Retail value;

(2) Rent-to-own charge;

(3) Rental period;

(4) Number of periodic payments required for ownership;

(5) Amount of each periodic payment;

(6) Total of all payments; and

(7) Whether the goods are new or have been previously rented or are otherwise used.

(1) On a label attached or posted on top of the goods displayed to any potential consumer;

(2) In any rent-to-own agreement as defined in section five, article one of this chapter;

(3) In any telephone communication with a potential consumer; and

(4) In any radio, television or printed advertisement for the goods when the amount of the periodic payment for the item is included in the advertisement.

(d) Any oral communications concerning the terms and conditions of the transaction shall be incorporated into a written agreement which shall govern the transaction.

(e) In any transaction involving more than one dealer, only one dealer may make the disclosures required by this article: Provided, That when the name of the dealer is required to be disclosed, all dealers shall be disclosed.

(f) A dealer may disclose information that is not required by this section only when the additional information is not stated, used or placed in a manner that may contradict, obscure or distract attention from the information required by this section.

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